Successful Farming: A Look at Farmers’ Prosperity
Published on: October 19, 2023.
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Pakistan’s agricultural sector has demonstrated remarkable resilience and growth despite various challenges. The hard work and dedication of farmers have resulted in record volumes of cotton, rice, and wheat production, which are crucial for the national economy and food security.
Cotton plays a crucial role in the income of millions of farmers and serves as a key raw material for the textile sector, which contributes to over half of the country’s exports. A successful cotton crop has increased production from 3.3 million to 8 million bales, with expectations of reaching 12 million bales by the end of the season. However, to meet the textile industry’s demand of 15 million bales annually, there is still a need to further enhance cotton cultivation.
In another positive development, traders and farmers have earned substantial profits from rice exports this year. The upcoming rice crop is also expected to be a bumper crop, with experts predicting $3 billion in rice exports this year, surpassing the usual export earnings of less than $2 billion. Rice not only serves as a staple food for the Pakistani population but is also a valuable commodity in the global market. The country’s focus should remain on diversifying and improving rice varieties and quality to maintain a competitive advantage.
Furthermore, Pakistan achieved a bumper wheat crop of 27.5 million tonnes in the 2022-23 crop year. Despite the rising costs of fertilizers, fuel, and electricity, which have increased production expenses for farmers, there is optimism for a significant increase in wheat cultivation area and yield. Experts project a record production of 29 million tonnes. Additionally, the surplus wheat held by provinces and the Pakistan Agricultural Storage and Services Corporation (Passco) is sufficient to meet the country’s consumption needs. As a result, wheat imports will not be required in 2023-24. Wheat holds the utmost importance in terms of food security and self-reliance. It is crucial to ensure that farmers receive fair prices for their produce and are protected against market manipulation, hoarding, and smuggling.
The government must promptly announce the wheat support price and encourage farmers to increase wheat cultivation. This will contribute significantly to saving foreign currency reserves and guaranteeing food security.
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